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10,000 is deposited in a certain account that pays r percent [#permalink]

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15 Oct 2008, 16:38

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$10,000 is deposited in a certain account that pays r percent annual interest compounded annually, the amount D(t), in dollars, that the deposit will grow to in t years in given by D(t)=10,000(1+(r/100))t What amount will the deposit grow to in 3 years?

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15 Oct 2008, 20:08

fresinha12 wrote:

$10,000 is deposited in a certain account that pays r percent annual interest compounded annually, the amount D(t), in dollars, that the deposit will grow to in t years in given by \(D(t) = 10,000 (1+(r/100))^t\). What amount will the deposit grow to in 3 years?

1: we do not know "t". D(t) = 11,000 could be in 5 years or 10 years or 100 years. so D(3) varies accordingly. so insuff......... 2: if r = 10, \(D(3) = 10,000 (1+(10/100))^3\). so suff...
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